Saving for a down payment is one of the biggest obstacles to homeownership. Can you buy a house with no money down? It’s possible, but the conditions to qualify for a no-down-payment mortgage are highly specific. If you aren’t eligible, it might be easier to qualify for a low-down-payment mortgage.
No-down-payment loans include VA loans, backed by the Department of Veterans Affairs, and USDA loans, guaranteed by the U.S. Department of Agriculture. VA loans are available to current and veteran service members and eligible spouses, and USDA loans are available for people buying property in specific rural and suburban areas.
However, even a no-down-payment mortgage may still require some cash: You’ll likely have up-front expenses like fees, closing costs and mortgage insurance (or you might be able to roll them into your loan).
Low-down-payment mortgages include FHA loans, insured by the Federal Housing Administration, which require down payments as low as 3.5%. And even some of today’s conventional loans allow down payments as low as 3%.
The lenders on this list offer home loans with no down payment (zero-down mortgages) and/or low-down-payment FHA or conventional loans.
The star ratings shown are specific to the product featured from each lender. The list includes a mix of FHA, VA and conventional loans.
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